Featured Sector: Education

The value of education starts fell for a fourth month in a row in December. In the final quarter of 2014, the underlying value of project starts in this sector dropped by 5% on a year earlier. Annual growth was in double digits in the summer of 2014, but a four-month run of falls has taken that figure down. Over the 2014 calendar year, the underlying value of project starts in the education sector rose by 6%.

Over the past five years, education starts in this sector hit their nadir in 2012 after the cancellation of the Building Schools for the future programme. There has been growth in both full calendar years since then. The total for 2014 is 29% up on two years ago, but still down 7% on the total for 2010, illustrating the toll that austerity cuts and efficiency savings have taken on this sector.